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Here are 5 moves to make with money this December

As Christmas gets closer, people are scrambling to save for gifts.

Christmas can be expensive, and it’s easy to head into the next year with a shrunken bank account.

There are a few ways to help set yourself for financial success as you head into the New Year after Christmas.


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Make sure to adjust your budget accordingly.

Be aware of what aid you have coming to rely on for purchases or bills.

Millions are expecting a payment worth up to $300 with the last child tax credit payment coming.

Depending on what you lose with holiday spending, you may be able to prepare for the loss in cash with that payment.


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Other parents may be receiving a lump sum of $1,800 because they just enrolled and are owed the missed payments.

No matter what you get, it’s a good idea to be aware and structure your budget with it.

You may be able to convert your traditional IRA account to a Roth IRA before 2022.

This is helpful for those in a low tax bracket that haven’t claimed Social Security.

Once you convert, you cannot switch back.


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The deadline in Dec. 31.

The deadline passed Dec. 7, but if you were able to review your current Medicare coverage, you may have noticed that changing your plan option will save you some money in 2022.

Some employers offer FSA accounts, or flexible spending accounts.

If you haven’t used the money and could lose it at the end of the year, then make sure you do.

Some people lose out on up to $2,750 that could have paid for medical costs.

Related: $6,300 dollar stimulus check will be sent to hundreds by December 15, here’s who can expect them


Check with your FSA plan to see if there are some FSA funded websites it’s possible to be used at.

These websites sell things like over the counter pain medication or eye care products.

This way you can stock up on items you’ll need in the future and not lose out on money.

You can start a savings account that earns you interest.

Some people put away $50 to $100 per month if they can afford it and it adds up quickly.

Apps like Acorns will also round up purchases to make to the nearest dollar and save the leftover change so it can accumulate interest.



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